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Ticker: WBS ISIN: Type: Commodities
Open: 52.54
Change: +0.11
Volume: 572,731
Low: 52.24
High: 53.52
High / Low range: 1.28
52.48 USD (+0.21%) 2017-01-17 00:00:00 EOD data - Futures NYMEX

WTI CRUDE OIL - WTI Slipped Below Our Suggested Level! - Daily

The West Texas Intermediate (WTI) had a downward move over yesterday’s session meeting the $45.40 support level which overlaps with the 100-weekly SMA and hit our suggested target (see technical analysis here: Also, the oil plunged more than 3.5% and currently is trading near the $46.15 price level. The price fell below the 100-daily SMA and 200-daily SMA as the 50-SMA seems to be a critical obstacle for the bears. A break of the $45.40 obstacle will move towards the ascending trend line and the $43.60 support barrier.

On the other hand, if the oil surpasses above its moving averages will meet the $49.30 resistance level or the key resistance level at $52.25. Technical indicators seem to endorse with the downward thought as both are following a bearish path. the MACD oscillator lies near its mid-level with some weak momentum while the RSI indicator holds below the 50 level.
WTI CRUDE OIL live chart
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